Accrual Basis of Accounting For the following situations, indicate the date on which revenue…

 
   

Need your ASSIGNMENT done? Use our paper writing service to score better and meet your deadlines.  

Accrual Basis of AccountingFor the following situations, indicate the date on which revenue would be recognized, assuming the accrual basis of accounting.
a. On June 10, a customer orders a product over the phone. The product is shipped to the customer on June 14, and the customer pays the amount owed on July 10.b. On March 15, a law firm agrees to draft a legal document for a client. The docu- ment is completed and delivered to the client on April 5, and the client pays the amount owed on May 2.c. A homeowner signs a contract on August 6 to have a company install a central air conditioning system. The work is completed on August 30, and the home- owner pays the amount owed on September 25.